Small business owners are getting an extra bonus for running a business thanks to new credit cards from Citi.
These cards are designed to provide extra benefits specifically for small business owners.
When you run a small business, the balance between personal and professional finances is often a difficult one. Trying to keep money flowing between the two things is not easy, particularly in a tough economy. Fortunately, Citi understands this plight and are offering new credit cards or new benefits that are specifically designed to keep the small business owner at the top of their game.
First of all, if you are a Citi card holder, you will notice that they have made a few revisions to their ThankYou rewards program. In order to take full advantage of this, though, cardholders have to switch to a CitiBusiness Streamlined Checking Account or a CitiBusiness Flexible Checking Account and must also perform at least two online bill payments or use their checking account to write two checks every month.
This streamlines things a little better but also allows account holders to share ThankYou rewards between multiple accounts for bigger rewards in a shorter amount of time.
This is not something that every business can necessarily do on a consistent basis, but those that can, will definitely appreciate the added help. Still, it could act as an incentive for some struggling businesses to get their finances in order so that they can enjoy much bigger benefits. Obviously, it makes a lot of sense to earn rewards from your business credit cards and then combine them with points that you are able to earn just by writing a check to your bills.
Those small companies that are able to figure this out and manage it quickly, then, will be able to take full advantage of everything that Citi is offering. This is a strategic and smart move from one America’s largest credit card suppliers during a time when people are really looking for good deals but also need something that helps them stay afloat. This type of program offers convenience in combination with incredible benefits that expedite the process and reward business owners for being responsible.
Maria Veltre, the managing director of Citi’s small-business division, explains this transformation in a recent press release:
For many small business owners, their life is their business and their business is their life. In listening to our small business clients, it became clear that they want to earn rewards for things they do every day for their personal lives and business, such as using cash management services, making credit card purchases or having a small business loan. By making Citi’s proprietary ThankYou loyalty program available to these clients, we are providing the most value to their banking relationship.
This new program offers specialized credit cards that could provide a tremendous boost in financial stability for any small business owner. This includes the AT&T Universal Business Rewards Credit Card which offers:
- A single ThankYou rewards point per dollar on every purchase
- Up to 3 Thank You Rewards point on operational expenses like gas, office supplies, and professional services
- As much as 5 ThankYou rewards points on the dollar towards all purchases made from AT&T, including products and services
Another card that might interest many small business owners is the CitiBusiness ThankYou Card, which offers:
- 15,000 bonus points when you spend at least $3,000 on your card in the first 3 months of opening your account
- As much as 3 point on the dollar on eligible purchases made within a series of rotating business expense categories
- 1 point on the dollar spent on anything else.